Ester Industries Limited — Others, 08-08-2025: Monitoring Agency Report

Ester Industries' Q1 FY26 monitoring report for its Rs 174.99 Cr preferential issue of convertible warrants shows no fresh utilization of funds this quarter. The company has utilized Rs 16.80 Cr towards a joint venture investment previously, with Rs 158.19 Cr remaining unutilized from the issue. Notably, Rs 89.24 Cr of the total proceeds are still to be received upon warrant conversion by May 2026. The unutilized funds, totaling Rs 68.95 Cr (from received amounts), are currently deployed in fixed deposits. This report confirms no deviation from the stated use of funds or delays.